2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
OSAGO refers to compulsory insurance. All citizens of the Russian Federation who drive any vehicles on the territory of our country are required to purchase a motor third party liability insurance policy. The absence of an OSAGO policy entails a fine.
Unlike CASCO, payments under these policies are made only to persons recognized as victims of an accident. Compensation is paid in cash even after the examination.
Legislative regulation
The main document that regulates the relationship between the insurance company and the owner of the vehicle, who is its client, is the OSAGO Rules. They contain the most complete information about the conclusion, termination, and renewal of the insurance policy.
It is the OSAGO rules that regulate the list of documents that an insurer may require for insurance. Usually this is a passport, driver's license and car documents. In 2013, changes were made to the insurance rules: OSAGO is now issued only upon presentation of a technical certificate.vehicle inspection.
In addition, the specified legislative act regulates the period for which you can issue an OSAGO policy. The rules establish that an insurance contract can be concluded for at least three months. After this period, the policy can be extended, but no more than two times. The maximum possible duration of the insurance contract is one year.
By taking out an OSAGO policy in the same insurance company, the driver can get a discount in the absence of accidents. Previously, by easily changing the insurer, the driver could hide the facts of his participation in an accident. However, the new OSAGO rules have established restrictions on such a situation. A single database of insured persons is now being maintained, thanks to which insurance companies can easily check any car owner for accident-free operation.
From January 1, all such firms are required to transfer data on concluded OSAGO agreements to a single system. Now the insurance premium is calculated only after accessing such a resource. This means that insurers are obliged to provide not only discounts for accident-free driving, but also to make premium premiums in case of accidents caused by the insured.
It is also useful to know that when selling a car before the expiration of the OSAGO policy, the driver has the right to terminate the contract. In this case, the insurance company is obliged to return part of the paid sum insured.
An interesting fact is that since this year, with repeatedcontinuous conclusion of an insurance contract with the same insurer, there is no need to provide original documents.
It is important to understand that the OSAGO rules, along with traffic rules, should be studied by all drivers. Knowing this document will help you properly deal with the insurance company if you need to receive compensation.
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